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Ghana slapped with $170mn judgement debt over wrongful termination of power contract

A United Kingdom Court says it is too late for Ghana to appeal against a US $164 million judgment debt awarded against it for wrongfully terminating the contract of an independent power producer, Ghana Power Generation Company (GPGC) Limited.

The contract was initially worth US$ 24.9 million per annum over the contract period of four years, making US$99.6 million.

The government failed to apply and set aside the January 26, 2021 decision of the London-based United Nations Commission on International Trade Law (UNCITRAL) Tribunal.

Rather, it turned up at a London Commercial Court with two excuses as impediments–the country’s 2020 presidential and parliamentary elections and that some key officials in the Attorney General’s Office contracted COVID-19.

June 23, 2021

References:

• https://thefourthestategh.com/2021/06/22/full-report-ghana-to-pay-170-million-judgment-debt-as-london-court-declares-covid-19-and-election-excuse-as-intrinsically-weak/
• https://www.ghanaweb.com/GhanaHomePage/NewsArchive/170m-judgement-debt-AG-would-ve-found-a-way-out-in-Ghanaian-court-Mutawkilu-1294333
• https://www.ghanaweb.com/GhanaHomePage/business/US-170-million-Judgement-Debt-Boakye-Agyarko-defends-termination-of-GPGC-contract-1293874
• https://3news.com/170m-gpgc-judgement-debt-increases-to-200million/
• https://radiogoldlive.com/tony-blay-wifes-law-firm-linked-to-ghanas-us170-million-judgment-debt/
• https://www.myjoyonline.com/170m-judgment-debt-attorney-general-looking-for-a-scapegoat-for-wrongful-termination-of-contract-kwabena-donkor/
• https://www.ghanaweb.com/GhanaHomePage/NewsArchive/US-170-million-GPGC-judgement-debt-avoidable-IES-Boss-1296091